Anhui Yingjia Distillery Co Ltd Class A

603198: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Industry Headwinds and Moat Downgrade Drive 14% FVE Cut for Yingjia and 32% FVE Cut for Gujing

Jennifer Song

Sep 1, 2026

Second-quarter results from our mass-market baijiu coverage diverged. Anhui Yingjia continued its growth trajectory from the first quarter, with net profit rising 8% year on year, while Anhui Gujing's earnings deteriorated further, with net profit plunging 58%.

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Anhui Yingjia Distillery Co Ltd Class A

Industry Headwinds and Moat Downgrade Drive 14% FVE Cut for Yingjia and 32% FVE Cut for Gujing

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